Emerging Trade Relations Among BRICS Nations

Registration ID: IJNRD_225726

Published ID: IJNRD2407407

DOI: Click Here to Get

Besmillah Sharifi , Bimal Jaiswal

Keywords: BRICS, Emerging, Economic Trade, Developing Nations

Abstract This study article presents a thorough analysis of the evolving trade relationships among BRICS nations—Brazil, Russia, India, China, and South Africa—over the period from 1992 to 2023. Utilizing both quantitative and qualitative research methods, the study explores the diverse factors driving economic cooperation among these emerging economies. Secondary information derived from scholarly sources, government reports, and industry publications form the basis for examining trade dynamics. The findings show substantial growth in trade volumes, led predominantly by China, with India also showing significant expansion. Although Brazil, Russia, and South Africa display variable trade patterns, their overall trade volumes have risen throughout the time spent studying. The investigation also discovered that the majority of the BRICS nations had a negative trade balance during the study period. Notably, the increasing share of intra-BRICS trade from 2004 to 2023 illustrates a concerted effort to strengthen economic cooperation and reduce reliance on traditional Western markets. The research highlights the different economic scales and development paths within the BRICS group, with China playing a key role in global trade. The paper also addresses challenges such as trade imbalances, effects on local industries, and environmental issues. Finally, it provides practical ideas for policymakers to leverage international trade benefits while ensuring sustainable and inclusive economic development.

Published Paper   E-Certificate

Besmillah Sharifi & Bimal Jaiswal (July-2024). Emerging Trade Relations Among BRICS Nations. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(7), f62-f76. https://ijnrd.org/papers/IJNRD2407407.pdf

Volume 9 Issue 7, July-2024

Pages : f62-f76

Paper Reg. ID: IJNRD_225726

Published Paper Id: IJNRD2407407

Downloads: 000121992

Research Area: Commerce

Country: Lucknow, Uttar Pradesh, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2407407.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2407407

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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